Ex-Bithumb Chairman Acquitted in South Korea $100M Crypto Exchange Fraud Trial: Report

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A South Korean court acquitted former BithumbOfficial Chairman Lee Jung-hoon of fraud charges. Lee was accused of stealing $100 million from an investor during negotiations for an acquisition. By iamsandali

Lee Jung-hoon was indicted in July 2021. Last October, South Korean prosecutors asked a court to sentence him to eight years in prison. Lee was accused ofduring negotiations for an acquisition deal.

In 2018, Lee proposed that Kim, who was chairman of BK Medical Group, take over Bithumb under a joint management arrangement. Lee was accused of embezzling the acquisition deposit in the name of listing"BXA token," according to the report.If prosecutors are dissatisfied with the judgment of the court, they can appeal the judgement within a week, the report said.

Source: Law Daily Report (lawdailyreport.net)

 

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